Weekly Wrap-Up Commercial transactions: Week Ending 10 October 2025
Market Overview
Queensland’s commercial property market remains buoyant with several high-value transactions finalised across the state. Notably, significant capital was deployed across regional cities such as Cairns and Townsville, while Brisbane and the Gold Coast saw continued strength in retail, industrial and mixed-use asset classes. Investor confidence appears to be returning, driven by stabilising interest rates, strong population growth, and continued infrastructure investment. Meanwhile, new legislation is set to reshape landlord and tenant obligations within specific retail sectors, and the hotel investment market has emerged as a rising opportunity amid shifting investor strategies.
This Week’s Highlights
Office
- Cairns Corporate Tower at 15 Lake Street, Cairns QLD 4870, sold for $77.5M, marking the largest commercial sale in North Queensland this year. The 15-storey asset was acquired by a local investor group from Garda Property Group via CBRE.
- In Brisbane, a vacant office building at 161 Brunswick Street, Fortitude Valley QLD 4006, sold off-market for $5M. The deal indicates a return of investor interest in inner-city office assets adjacent to the Olympic precinct.
- Townsville’s CBD recorded 20 sales totalling $50M in FY25 with growing investor interest in large office assets.
Retail & Large Format Retail (LFR)
- A freestanding retail asset at 232 Brisbane Road, Booval QLD 4304, leased to Baby Bunting and RSEA Safety, sold for $11.45M at a 6.25% yield. The campaign drew 189 enquiries and was marketed by JLL.
- A retail centre at 161 Old Pacific Highway, Oxenford QLD 4210, on the Gold Coast, sold for $4.65M on a 5.99% yield. The 1,019 sqm asset is fully leased to long-standing tenants from DuluxGroup and attracted strong pre-market interest.
- Townsville’s suburban retail market recorded $330 million in total sales over the past year, a significant increase compared to the previous financial year. This surge was largely driven by the landmark $212 million acquisition of Willows Shopping Centre at 13 Hervey Range Road, Kirwan. Notably, six retail assets transacted above $5 million this year, compared to just one such transaction in the prior year, highlighting renewed investor interest and growing confidence in the region’s retail sector.
Industrial & Logistics
- A freestanding industrial property at 268 South Pine Road, Enoggera QLD 4051, held for 50 years, sold for $5.85M at a 5.14% yield following a highly competitive EOI campaign by Raine & Horne.
- In Ipswich, Centennial’s Riverview Industrial Park (103 Riverview Road, Riverview QLD 4303) received development approval for its 12ha site. Stage one construction will begin next month. The site was acquired in 2023 for $38.5M and targets tenancies under 10,000 sqm.
- On the Gold Coast, Currumbin Collective, a boutique 11-unit industrial project at 38–40 Currumbin Creek Road, Currumbin Waters QLD 4223, by Potter Group launched to strong demand, securing $5.5M in early sales.
Mixed-Use Development
- A 11.63ha mixed-use site on Gilston Road, Nerang QLD 4211, has hit the market with an approved masterplan for a residential and town centre development. Marketed as one of the last major land parcels on the central Gold Coast, the site is expected to generate broad developer interest.
General News
Hotel Sector in Focus: A recent AFR report highlights the hotel sector as a key growth opportunity in commercial property investment, driven by post-COVID travel recovery, new international flight routes, and hotel acquisitions trading below replacement cost. Brisbane and SEQ are noted as high-growth areas due to Olympic tailwinds.
Legislation Watch – Tobacco Reform Bill 2025: The Tobacco and Other Smoking Products (Dismantling Illegal Trade) Bill 2025 introduces new penalties and powers impacting property leasing. Landlords may now terminate leases under closure orders and face penalties for knowingly allowing illegal tobacco sales. This heightens risk for retail landlords and underscores the need for rigorous tenant screening and lease compliance.
Summary
| Sector | Property | Address | Price | Yield | Notes |
|---|---|---|---|---|---|
| Office | Cairns Corporate Tower | 15 Lake St, Cairns QLD 4870 | $77.5M | N/A | Largest NQ sale in 2025; sold by Garda Property Group |
| Office | Inner-City Office (Fortitude Valley) | 161 Brunswick St, Fortitude Valley QLD 4006 | $5M | N/A | Off-market deal; Olympic precinct adjacency |
| Retail & LFR | LFR Centre (ex-Bunnings site) | 232 Brisbane Rd, Booval QLD 4304 | $11.45M | 6.25% | Leased to Baby Bunting & RSEA Safety |
| Retail | Freestanding Retail Asset | 161 Old Pacific Hwy, Oxenford QLD 4210 | $4.65M | 5.99% | Leased to Pool Doctor & Inspirations Paint (DuluxGroup) |
| Retail | Willows Shopping Centre | 13 Hervey Range Rd, Kirwan QLD 4817 | $212M | N/A | Major suburban retail transaction in Townsville |
| Industrial | Freestanding Industrial (Enoggera) | 268 South Pine Rd, Enoggera QLD 4051 | $5.85M | 5.14% | Held for 50 years; competitive EOI campaign |
| Industrial Dev. | Riverview Industrial Park (DA approved) | 103 Riverview Rd, Riverview QLD 4303 | $38.5M (2023) | N/A | DA approved; construction begins Nov 2025 |
| Industrial (New) | Currumbin Collective Units | 38–40 Currumbin Creek Rd, Currumbin QLD 4223 | $5.5M* | N/A | 5 units sold off-plan; boutique development |
| Mixed-Use Dev. | Gilston Road Town Centre Site (EOI) | Gilston Rd, Nerang QLD 4211 | TBC | N/A | 11.63ha site with masterplan; EOI closes 6 Nov |
Final Take
This week’s activity underscores continued depth in Queensland’s commercial market, with regional cities like Cairns and Townsville showing exceptional strength, particularly in office and retail sectors. Investor appetite remains robust across most asset classes, supported by macroeconomic stability, constrained supply, and strategic infrastructure development. Legislative reform and sectoral shifts (notably in hotels and tobacco retail) will require proactive engagement from landlords and managers to mitigate risk and capture value.
References
Carruthers, P. (2025, October 7). Corporate tower sold at sky-high price. The Cairns Post, p. 1.
Herde, C. (2025a, October 3). Investors back in game. The Courier-Mail, p. 61.
Herde, C. (2025b, October 3). Southern interest soars. The Courier-Mail, p. 57.
Herde, C. (2025c, October 3). Quality tenants seal deal. The Courier-Mail, p. 62.
Potts, A. (2025, October 7). ‘Mini-city’ land sale. The Gold Coast Bulletin, p. 5.
Queensland Government. (2025). Tobacco and Other Smoking Products (Dismantling Illegal Trade) and Other Legislation Amendment Bill 2025. Retrieved from https://www.legislation.qld.gov.au/view/html/bill.first/bill-2025-031/lh
Shirkie, D. (2025). Townsville is hot property. Townsville Bulletin, p. 4.
Tamblyn, S. (2025, October 4). The property sector that may be in a sweet spot: Investing. The Australian Financial Review, p. 28.
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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